If the Goods That Are the Subject of a Sale

question 51

Multiple Choice

If the goods that are the subject of a sale are in the possession of a bailee and are to be delivered without being moved, when does the risk of loss pass to the buyer?

• A) At such time as the contract of sale was entered.
• B) At such time as the buyer receives the negotiable document of title.
• C) When the seller tenders a nonnegotiable document of title to the bailee.
• D) When the bailee is orally notified of the sale.

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Definitions:

SCM

Supply Chain Management, the oversight of materials, information, and finances as they move from supplier to manufacturer to wholesaler to retailer to consumer.

On-demand CRM

On-demand CRM is a model where customer relationship management software and its associated data are hosted remotely, typically by the CRM provider, and accessed by users via the internet on a subscription basis.

Netsuite CRM+

An advanced customer relationship management module offered by NetSuite that integrates sales, customer service, and marketing functions.

Mobile

Pertaining to handheld digital devices, including smartphones and tablets, and the technology and services associated with their use.